Oil with a shooting star reversal pattern

Κλείσιμο θέσης
September 4, 2018
Και τώρα που έσπασαν οι 700 μονάδες τι????
September 6, 2018

Greetings everyone, in the Daily chart of Oil prices I have noticed that we might be forming a bearish reversal pattern called shooting star. If price closes at current or lower levels a meaningful top could be in and a reversal could be starting.

Oil prices have rallied (more than I expected) from 64.50$ to 71.50$ in just two weeks. A lower high (relative to the July high) and a big reversal lower could signal a longer-term pull back and correction in Oil prices. I’m bearish Oil at current levels.

 

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Alexandros Yfantis
Alexandros Yfantis
Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.